Treasury yields edge lower as Brent crude falls below $99

Treasury yields edge lower as Brent crude falls below $99 Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu In this article US30Y US2Y US10Y @LCO26X Follow your favorite stocks CREATE FREE ACCOUNT Yields on U.S. Treasurys fell across the curve early Wednesday, as oil prices extended recent declines. As of 3 a.m. ET, the yield on the benchmark 10-year Treasury was 2 basis points lower at 4.947%. The 2-year Treasury yield fell 2 basis points to 4.758%, while the 30-year Treasury yield was 2 basis points lower at 5.287%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. Yields moved lower in tandem with oil prices, which were on track for their sixth consecutive day of losses on Wednesday. Brent crude oil futures for November delivery were last seen 0.8% lower at $98.49 a barrel, with the six-day pullback marking the longest losing streak since Aug. 2025. The contracts have fallen by around 9.5% since last Tuesday's close. U.S. West Texas Intermediate crude oil futures , down 1.2% to $89.41 per barrel, were also on track for their sixth straight day of losses. Prices fell after U.S. and Iranian delegations held talks at the U.N. General Assembly on Tuesday, lifting hopes that supply disruptions in the Middle East may ease. Surging oil prices, sparked by the Iran war and consequential shutdown of the Strait of Hormuz, have been at the center of mounting inflation fears this year. Brent crude, the global benchmark, is still trading more than a third higher than its pre-war price. Fixed income investors are also analyzing remarks from Federal Reserve officials in hopes of determining how hawkish sentiment at the central bank has become. Michael S. Barr, a member of the Fed's Board of Governors, will give a speech in Chicago on the economic outlook on Wednesday morning, a week after the bank raised interest rates and hinted that further tightening could be in the cards. Wednesday will also see the publication of S&P Global Purchasing Managers' Index figures for September. Initial jobless claims data will be released on Thursday. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.